Image via WikipediaConglomerate Ayala Corp. plans to put up power facilities that can generate over 1,000 megawatts of electricity over the next five years.
In a disclosure to the Philippine Stock Exchange, Ayala Corp. president and chief operating officer Fernando Zobel de Ayala said the company plans to build its power portfolio using both renewable energy sources and traditional fossil fuels.
"We believe there are opportunities to make early-stage investments in the renewable energy space which may have the potential to grow over time given the need to develop alternative sources of energy," he said.
He disclosed that in addition to Ayala's solar and wind initiatives, the company has begun developing platforms for potential hydroelectric projects.
http://business.inquirer.net/money/breakingnews/view/20110317-325951/Ayala-to-go-into-power-generation
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